Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) Sees Significant Increase in Short Interest

Invesco Dorsey Wright Utilities Momentum ETF (NASDAQ:PUI) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 11,660 shares, an increase of 53.6% from the March 15th total of 7,592 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 12,158 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Investors Weigh In On Invesco Dorsey Wright Utilities Momentum ETF

Hedge funds have recently added to or reduced their stakes in the business. Arax Advisory Partners acquired a new stake in Invesco Dorsey Wright Utilities Momentum ETF during the 4th quarter worth about $65,000. JPMorgan Chase & Co. boosted its stake in shares of Invesco Dorsey Wright Utilities Momentum ETF by 4,771.7% in the third quarter. JPMorgan Chase & Co. now owns 2,582 shares of the company’s stock worth $119,000 after buying an additional 2,529 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Invesco Dorsey Wright Utilities Momentum ETF by 39.9% in the third quarter. Global Retirement Partners LLC now owns 3,509 shares of the company’s stock worth $161,000 after buying an additional 1,000 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Invesco Dorsey Wright Utilities Momentum ETF during the second quarter worth about $173,000. Finally, Ameritas Advisory Services LLC purchased a new position in Invesco Dorsey Wright Utilities Momentum ETF during the fourth quarter valued at approximately $216,000.

Invesco Dorsey Wright Utilities Momentum ETF Price Performance

PUI traded down $0.34 during trading on Wednesday, reaching $47.60. 7,146 shares of the company’s stock were exchanged, compared to its average volume of 14,605. Invesco Dorsey Wright Utilities Momentum ETF has a 1 year low of $39.01 and a 1 year high of $49.30. The stock has a market capitalization of $75.21 million, a P/E ratio of 20.63 and a beta of 0.69. The company’s fifty day simple moving average is $47.21 and its 200-day simple moving average is $46.03.

Invesco Dorsey Wright Utilities Momentum ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were issued a dividend of $0.2594 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.2%. This is a boost from Invesco Dorsey Wright Utilities Momentum ETF’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, March 23rd.

About Invesco Dorsey Wright Utilities Momentum ETF

PowerShares Dynamic Utilities Portfolio (Fund) is based on the Dynamic Utilities Intellidex Index (Index). The Fund will normally invest at least 90% of its total assets in common stocks that comprise the Index. The Fund seeks investment results that correspond generally to the price and yield of the Dynamic Utilities Intellidex Index (Index). The Fund normally invests at least 90% of its total assets in common stocks that comprise the Index. The Fund invests in sectors, such as consumer discretionary, information technology, telecommunication services and utilities.